Delta Asset Management LLC TN Reduces Stake in McDonald’s Co. (NYSE:MCD)

Delta Asset Management LLC TN cut its stake in shares of McDonald’s Co. (NYSE:MCD) by 8.7% during the fourth quarter, HoldingsChannel reports. The firm owned 7,705 shares of the fast-food giant’s stock after selling 736 shares during the quarter. Delta Asset Management LLC TN’s holdings in McDonald’s were worth $2,285,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MCD. Signature Resources Capital Management LLC bought a new stake in shares of McDonald’s in the 4th quarter worth about $31,000. Spartan Planning & Wealth Management bought a new stake in McDonald’s in the third quarter worth about $33,000. Keener Financial Planning LLC purchased a new position in shares of McDonald’s during the fourth quarter valued at approximately $39,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of McDonald’s in the fourth quarter worth approximately $39,000. Finally, Bear Mountain Capital Inc. bought a new stake in shares of McDonald’s during the 4th quarter worth approximately $43,000. 70.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MCD shares. BTIG Research lowered shares of McDonald’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Stephens reaffirmed an “overweight” rating and set a $320.00 price target on shares of McDonald’s in a research note on Monday, February 5th. JPMorgan Chase & Co. dropped their price objective on McDonald’s from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Argus reaffirmed a “hold” rating on shares of McDonald’s in a research report on Monday, March 25th. Finally, Barclays dropped their price target on McDonald’s from $343.00 to $340.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $317.74.

Insider Buying and Selling at McDonald’s

In other McDonald’s news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $5,225.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Joseph M. Erlinger sold 1,099 shares of McDonald’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $284.38, for a total value of $312,533.62. Following the completion of the transaction, the insider now directly owns 18,075 shares in the company, valued at $5,140,168.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $275.02, for a total value of $220,016.00. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $5,225.38. The disclosure for this sale can be found here. Insiders sold a total of 2,997 shares of company stock worth $836,300 over the last three months. Insiders own 0.23% of the company’s stock.

McDonald’s Price Performance

MCD traded down $0.10 during trading hours on Wednesday, reaching $265.77. The company’s stock had a trading volume of 1,903,911 shares, compared to its average volume of 3,276,064. The business’s 50-day moving average is $274.03 and its 200-day moving average is $283.65. The stock has a market cap of $191.54 billion, a PE ratio of 22.56, a P/E/G ratio of 2.99 and a beta of 0.71. McDonald’s Co. has a fifty-two week low of $245.73 and a fifty-two week high of $302.39.

McDonald’s (NYSE:MCD) last issued its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). McDonald’s had a negative return on equity of 180.74% and a net margin of 33.36%. The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.16 billion. During the same period in the previous year, the business posted $2.63 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts expect that McDonald’s Co. will post 12.17 EPS for the current year.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.